Johnson & Johnson (JNJ) reported better-than-anticipated results and raised its guidance as pharmaceutical and medical equipment sales gained, even with demand for its COVID-19 vacc🌠ine waning.

The company, which spun off its consumer products division into a separate company, Kenvue (KVUE), in August, posted third quarter fiscal 2023 澳洲幸运5官方开奖结果体彩网:earnings per share (EPS) of $2.66. Sales increased 6.8% from a year ago to $21.35 billion. Both beat estimates.

Revenue at J&J’s pharmaceutical unit, known as Innovative Medicine, was up 5.1% year-over-year to 🥀$13.89 billion. Just $41 million of that came from COVID-19 shots. Cancer drugs, including Darzalex and Erleada, boosted sales.

꧙ The company’s MedTech unit’s sales jumped 10% to $7.5 billion, driven primarily by electrophysiology products.

Johnson & Johnson now anticipates full-year EPS of $10.07 to $10.13, compared to its previous outlook of $10 to $10.10ꦫ. It projects revenue in a range of $83.6 billion to $84 billion, up from its earlier forecast of $83.2 billion to $84 billion.

After initially climbing on the news, shares of Johnson & Johnson reversed course and were 0.4% lower as of 11:30 a.m. ET. They were down more than 11% year-to-date.